The Commissioner Of Income-Tax,(Central) Ludhiana v. M/S Bahadur Chand Investment (P)Ltd., Ludhiana

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITR No.93 of 1996Date of decision:29.5.2008 The Commissioner of Income-tax,(Central) Ludhiana ......Applicant Versus M/s Bahadur Chand Investment (P)Ltd., Ludhiana ......Respondent CORAM:-HON'BLE MR.JUSTICE RAJIVE BHALLAHON'BLE MR.JUSTICE RAKESH KUMAR GARG * * * Present:Shri Krishan Mehta, Advocate for the applicant-revenue.Shri Akshay Bhan, Advocate for the respondent-assessee. * * * Rakesh Kumar Garg, J . On the application filed by the revenue, the Tribunal vide itsorder dated 22.1.1996 passed in RA No.247/Chandi/1995 arising out ofITA No.542/Chandi/1990 for the assessment year 1986-87 has referred thefollowing question of law said to be arising out of the Tribunal's orderdated 9.3.1995, to this Court for its opinion:- “Whether on the facts and in the circumstances of thecase, the Income-Tax Appellate Tribunal was right in lawin holding that the assessee be treated as an “IndustrialCompany” and that the tax be charged at low rateapplicable to an Industrial Company?” Sh. Krishan Mehta, learned counsel for the revenue, has very fairly stated that similar question of law on similar facts has been answeredby this Court against the revenue in ITR No.287 of 1995 decided on21.5.2008. In view of the above, question of law as referred by theTribunal is answered against the revenue and in favour of the assessee. The reference application is disposed of accordingly. (RAKESH KUMAR GARG) JUDGE May 29, 2008ps (RAJIVE BHALLA) JUDGE